From The Floor-An Afternoon Recap

News

  • New Edge estimated US 2013 corn crop at 13.705 BB vs. USDA August estimate of 13.763 BB
  • New Edge said US corn stocks will reach 1.889 BB before the 2014 harvest vs. USDA estimate of 1.837 BB
  • New Edge estimated US 2013 US bean crop at 3.17 BB vs. USDA August estimate of 3.255 BB
  • New Edge said US bean stocks will reach 130 MB before the 2014 harvest vs. USDA estimate of 220 MB
  • Jordan canceled tender for 100K tons of optional origin wheat for March-May shipment due to high prices
  • FOP estimated France 2014 rapeseed area at 1.5 MH
  • FC Stone comes out today at 3 pm CDT with their 2013 US crop estimates. Previous FC Stone estimates were
    • FC Stone previously estimated the 2013 US corn crop at 13.933 BB
    • FC Stone previously estimated the 2013 US corn yield at 157.0 BPA
    • FC Stone previously estimated the 2013 US bean crop at 3.309 BB
    • FC Stone previously estimated the 2013 US bean yield at 43.0 BPA
  • Weekly API energy inventory report comes out today at 330 pm CDT
  • ECB rate announcement comes out tomorrow expected rate to remain at .5%
  • ECB president press conference tomorrow.
  • G20 2 day summit begins tomorrow in Russia
  • China to auction 500K tons of beans from reserves tomorrow
  • Weekly US jobless claims report comes out tomorrow at 730 am CDT
  • Weekly EIA Nat Gas storage report comes out tomorrow at 930 am CDT expecting +54 billion
  • Weekly DOE numbers come out tomorrow at 10 am CDT expecting
    • Crude a draw of 2.0 MB
    • Gas a draw of 550,000
    • Distillates a build of 750,000
  • Weekly US ethanol plant production comes out tomorrow at 10 am CDT
  • Open outcry option players
    • ABN bought 2,000 Nov bean 1350/1250 put spreads at 29 and bought 520 Nov futures at 1370
    • RJO sold 3,000 Oct soybean 1400 calls at 16 ½-21 ½ and bought 1,120 Nov futures at 1368-1374
    • Vision bought 1,600 Nov bean 1500 calls at 11
    • Mizuho sold 2,500 Nov bean 1450 calls at 16-16 ½ and bought 550 Nov futures at 1345
    • ICap bought 2,000 Oct corn 450p/510c strangles and sold 2,000 Nov corn 420p/520c strangles at 2 ½ debit
    • Knight bought 1,000 May corn 400 puts at 7 ½ and bought 120 May futures at 492
    • ABN bought 2,400 Dec corn 430 puts at 8 ¼ and bought 550 Dec futures at 471
    • FI sold 3,000 Dec corn 440 puts at 11 and sold 810 Dec corn futures at 471
    • FC Stone sold 2,000 Dec corn 500 calls at 12 3/8 and bought 440 Dec futures at 470
    • JP Morgan sold 1,000 Dec corn 400 puts at 3 ¼
    • FI sold 1,200 Nov wheat 640 puts at 19-21
    • Bunge sold 500 Dec meal 440 calls at 16.50-17
    • Tenco bought 700 Oct meal 445 calls and sold 700 July meal 440 calls at 3.50-3.75 credit
    • Bunge sold 1,000 Dec bean oil 45 calls at 95

 

Estimated Fund Activity

  • Wheat sold 1K
  • Corn sold 5K
  • Beans sold 10K
  • Meal sold 4K
  • Bean oil sold 2K

 

Closing vols and ATM straddles

 

Corn

V vol 32 ¼ 470 str 25-26

X vol 29 470 str 40 ½-41 ½

Z vol 26 ½ 470 str 46-47

H vol 25 480 str 65-66

K vol 24 ¼ 490 str 74 ½-76 ½

Z14 vol 21 ¾ 510 str 96-98

 

Beans

V vol 25 ½ 1350 59-60 ½

X vol 24 1350 str 96-98

F vol 22 1340 str 142-144

H vol 20 ¾ 1340 str 148-152

K vol 19 1300 str 156-160

N vol 18 ¼ 1300 str 166-170

 

Wheat

V vol 22 ½ 650 str 24-26

X vol 22 ¼ 650 str 43-45

Z vol 22 650 str 52-54

H vol 22 ¼ 660 str 78-81

K vol 22 ¾ 670 str 94-98

N vol 22 ¾ 660 str 103-107

 

KC Wheat

V vol 20 ½ 700 str 24-26

X vol 20 ½ 700 str 42-44

Z vol 20 ½ 700 str 53-55

H vol 21 710 str 79-83

N vol 21 ½ 700 str 104-109

 

Minneapolis wheat

Z vol 18 720 str 44-52

H vol 18 ¾ 730 str 71-80

K vol 19 ¼ 740 str 82-92

N vol 19 ¼ 750 str 95-105

 

Meal

V vol 32 430 str 25-28

X vol 32 430 str 41-44

Z vol 27 430 sr 42-45

F vol 25 420 str 46-49

H vol 23.5 410 str 49-52

K vol 21.5 400 str 50-57

 

Bean oil

V vol 19 4350 str 135-155

X vol 18 44 str 225-250

Z vol 17.5 44 str 275-295

F vol 17 44 str 320-350

H vol 16.5 4450 str 380-410

K vol 16.5 4450 str 450-480

 

Crush quotes

 

OPEN                CLOSE

SEP           1.03-1.20         1.10-1.20

OCT          70.5-71.5         69-70.5

DEC           64-64.5            60-61

JAN           63-64                61.5-62.5

MCH         66.5-67.5         64-65.5

MAY          67-67.5            64-65

JLY             66.5-67             65-66

DEC 14      72-74                71-72

 

Crush player

 

Rand sold 100 Oct at 70.5-71.0

 

Thank you,

 

Kate Rosenberg